loanDepot, the NYSE-listed mortgage lender, reported a third-quarter 2026 net loss of $28.7 million on 9 November 2026, against $6.6 million in the second quarter, on total net revenue of $307.1 million, down from $337.3 million. Fintechbits reported that on 29 October 2026 loanDepot opened its digital home equity line of credit to homeowners in 47 states with credit scores from 600.

Where loanDepot Is Finding Volume

Against the third quarter of 2025, origination volume rose 8%, unit volume 33% and purchase volume 10%, while cost to produce fell 16%, according to founder and chief executive Anthony Hsieh. He described “a significantly more challenging mortgage market throughout 2026.” Adjusted EBITDA fell to $16.9 million from $20.3 million in the second quarter.

Home equity is the growth engine. loanDepot believes it ranked among the top three non-bank home equity lenders by volume in the third quarter, based on its own analysis of public data and internal estimates. A HELOC lets homeowners borrow without giving up a low-rate first mortgage, which is exactly the product demand that high rates create. The rank claim is self-reported, based on loanDepot’s own reading of the data, and should be read that way.

The purchase side is the other lever. loanDepot says its purchase mortgage market share rose 9% from a year earlier as it expanded homebuilder partnerships and its retail loan officer team, while automated underwriting and digital closing cut costs. Marketing and advertising expense fell to $27.7 million from $37.7 million a year earlier. Even so, total expense of $335.7 million exceeded total net revenue, and the nine-month net loss reached $90.3 million against $74.7 million a year earlier. Hsieh said elevated interest rates remain a headwind, which leaves the turnaround dependent on the path of mortgage rates as much as on loanDepot’s own execution. Rivals are chasing the same home equity borrowers: Better, for one, pays Coinbase One members up to $10,000 to take out a HELOC.